$3,500,000 Loan For Purchase of Non-Performing Mortgages and Notes

Brick Realty Capital LLC, through an affiliate entity, provided a Hypothecation Loan in the amount of $3,500,000 to a private real estate investment group for the purchase of 3 non-performing mortgages and notes. The mortgages are secured by five retail buildings including a local shopping mall and a Harley-Davidson dealership . Eric C. Roth, a Managing Partner of Brick, arranged the financing for this transaction directly with the Borrower. The loan, with an interest only 2 year term, was closed within two weeks of application in order to satisfy the borrower’s time of the essence closing date.